India Official Calls for More Foreign Investment in Defense

By

Prasanta Sahu

May 6, 2013 8:06 a.m. ET

NEW DELHI—India should lift the foreign direct investment limit in its defense sector from the current level of 26% as it would promote manufacturing, create jobs and secure arms supply, the country's economic affairs secretary said.

"I see no reason why in defense there shouldn't be any increase in foreign investment limit," Arvind Mayaram said in a recent interview.